Video: Why We Need More Black Business Owners + Why You NEED to Grow Your Business Now

I discovered the video above (click here if you can’t see it), while browsing my facebook news feed yesterday. It is an excerpt of a speech from Dr. Claude Anderson on the fundamental reasons why Black Americans are among the poorest Americans. I’ve previously done posts on Black Debt and thought this particular video HAD to be apart of the story.

A few things Dr. Claude said that I thought were interesting….

The reason Black People are the poorest in the United States is because we don’t own businesses.

The median income of Asians in America is $55,000 the highest in America while we are at the bottom of the barrel with a median income of $19,400.

1 out of every 10 Asians are in business.
1 out of every 34 Whites are in business.
1 out of every 54 Hispanics are in business.
1 out of every 104 Blacks are in business.

He has more to say and I want you to listen because in my opinion he makes some valid points. One of the things he says is at this stage in the business game blacks should ONLY go into businesses where they have a competitive advantage – areas where your people dominate in population or in spending patterns. Think about that one for a second… its not just a about passion … its about PROFITABLE passions. Moreover, its about practicing what he calls ‘group economics’, pooling resources and buying from your own people (something we have struggled to do for years). So what are you selling and what are you buying?

While I ONLY made $500 the first month I decided to work at home for myself today I am making more than twice as much as when I was working in my old 9 to 5! As Dr. Claude puts it, a job is not created to enrich you… you can NOT get RICH working in a job. Running your own business means there is no cap on how much you can make provided there is no cap on how hard you are willing to work to make it happen.

related:
Don’t Work with Black Women (Period)
Marketing to Women of Color